Gift Cards

The history of gift cards

Gift card is a prepaid card that you can use to make purchases at a specific retailer, like a supermarket or clothing store. Gift cards are often used as gifts for occasions such as birthdays and Christmas. They were first introduced in the 1950s and have since become an increasingly popular option among consumers.

The gift card has been around for a long time and has changed and grown over the years. The evolution of the gift card started in the early 20th century when it was called a "gift certificate." The first gift certificate was given by the American department store Wanamaker’s to a customer in 1913.

Fun facts about gift cards

The first gift card was introduced in the 1950s, paving the way for a history of innovation. There are more than 20 billion gift cards sold worldwide each year.

In 2016, the average retail value of a gift card was $22. More than half of all gift cards were purchased at a grocery store. Most retailers will only replace their lost or stolen card if you report it to their customer service department within six months and provide proof that you reported it as lost or stolen.

The future of gift cards

Gift cards are becoming increasingly popular. More people are buying them and using them more often. With the increasing popularity, many retailers are shifting to digital solutions in order to create more cost-effective options for consumers.

In recent years, many consumers have been turning away from credit or debit cards and have started using gift cards instead. Credit or debit card users make a purchase at a store and then use that card a few days later when they run out of money or don't have enough left on their account. But with a gift card, you will be able to draft up as much money as you want without having worry about your balance being too low.

The evolution of the gift card will continue. In recent years, gift cards have become more and more common as a promotional tool for different businesses.